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Redding, California - April 26, 2024

Edible Insects Market to be Worth $17.9 Billion by 2033

Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar & Shakes, Bakery, Confectionery, Beverages), and Geography - Global Forecast to 2033

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar & Shakes, Bakery, Confectionery, Beverages), and Geography - Global Forecast to 2033’

According to this latest publication from Meticulous Research^®, the edible insects market is projected to reach $17.9 billion by 2033, at a CAGR of 28.6% from 2024–2033, while in terms of volume, the market is expected to reach 4.7 million tons by 2033, at a CAGR of 36.3% from 2024 to 2033. The growth of this market is driven by rising greenhouse gas emissions from the livestock & poultry industries, the high nutritional value of edible insects, the environmental benefits of edible insects, the rising demand for insect protein in the animal feed industry, and the low risk of transmitting zoonotic diseases with the consumption of edible insects.

However, the lack of a standardized regulatory framework, psychological & ethical barriers to consuming insects as food, and the risk of allergies due to insect consumption restrain the growth of this market. Furthermore, business expansion in emerging & developed economies is expected to generate growth opportunities for the players operating in this market. However, the lack of awareness regarding the benefits of insect consumption and limitations in scaling up production are major challenges impacting market growth.

Key Players

The key players operating in the global edible insects market are Protix B.V. (Netherlands), Ÿnsect (SAS) (France), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Bioflytech S.L. (Spain), Entomo Farms (Canada), Aspire Food Group (U.S.), Global Bugs Asia Co., Ltd. (Thailand), Entobel Holding Pte. Ltd. (Singapore), Entofood Sdn Bhd (Malaysia), SFly Comgraf SAS (France), Hexafly (Ireland), F4F SpA (Chile), Protenga Pte Ltd. (Singapore), nextProtein (France), Enorm Biofactory A/S (Denmark), Hargol FoodTech (Israel), All Things Bugs, Llc (U.S.), Beta Hatch (U.S.), Armstrong Crickets Georgia (U.S.), JR Unique Foods Ltd. (Thailand), Tebrio (Spain), and HiProMine S.A. (Poland).

The global edible insects market is segmented by product, insect type, application, end use, and geography.

Based on product, the global edible insects market is segmented into whole insects, insect powder, insect meal, and insect oil. In terms of value, in 2024, the whole insects segment is expected to account for the largest share of 46.3% of the global edible insects market. The large market share of this segment is mainly attributed to the high adoption of whole insects due to their easy availability and lower cost compared to processed insects, the absence of insect processing facilities in some parts of the world, and the high demand for whole insects in the animal feed industry. Moreover, in terms of volume, in 2024, the insect meal segment is expected to account for the largest share of the global edible insects market.

Based on insect type, the global edible insects market is segmented into crickets, black soldier flies, mealworms, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other edible insects. In 2024, the crickets segment is expected to account for the largest share of 53.3% of the global edible insects market. This segment's large share is mainly attributed to the high nutritional value of crickets, the ease of farming and processing them, growing acceptance among consumers, their increasing use in various food recipes and products, and the rising demand for cricket-based products such as protein powders, protein bars, and snacks.

Based on the application, the global edible insects market is mainly segmented into food & beverage and feed & pet food. In 2024, the food & beverages segment is expected to account for the larger share of the global edible insects market. The large market share of this segment can be attributed to the increased consumption of insect-based food & beverages due to their high nutritional value. Furthermore, the global food shortage and increasing demand for premium alternative protein and amino acid sources within the food and beverage industry contribute to the significant market share of this segment.

Based on end use, the global edible insects market is segmented into human consumption and animal nutrition. In 2024, the human consumption segment is expected to account for the larger share of 55.4% of the global edible insects market. However, animal nutrition segment is expected to register the fastest CAGR during the forecast period of 2022-2033. The fast growth of this segment is mainly attributed to the growing demand for meat products and the subsequent increase in the demand for protein-rich animal feed, rising soy meal prices, growing adoption of black soldier flies and mealworms in aquaculture feed, and government approval for the use of insects as a feed ingredient.

Based on geography, the global edible insects market is divided into five regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the global edible insects market. Europe's significant market share can be attributed to the well-established commercial farming market for edible insects, especially in Thailand, the wide availability of various insects coupled with huge production, the positive attitude towards insects as food & feed, the absence of regulatory barriers to using insects as food & feed, and the presence of key market players in the region.

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Key Questions Answered in the Report-

What is the current revenue generated from the edible insects market globally?
At what rate is the demand for edible insects projected to grow for the next 7–9 years?
What are the historical market sizes and growth rates of the global edible insects market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of product and application are expected to create major traction for the vendors in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global edible insects market?
Who are the major players in the global edible insects market? What are their specific product offerings in this market?
What are the recent strategic developments in the global edible insects market? What are the impacts of these strategic developments on the market?

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Redding, California - April 26, 2024

Edible Insects Market to be Worth $17.9 Billion by 2033

Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar & Shakes, Bakery, Confectionery, Beverages), and Geography - Global Forecast to 2033

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